Why is the UK the third largest holder of US $ debt?

And why did the UK accelerate it's purchase of US $ debt in December when China reduced its holdings of $? This at a time when the UK is virtually bankrupt itself.

So Gordo is having the UK fall on its sword to help out his little pal in the Whitehouse who has already told him that he cares nothing about him. Its like a bad scene from a trash Drug Store Romance paperback

That's a great question. However, it was framed by me. Of course, I don't mind you asking it, but you coukd have changed the words around a bit, or at least acknowledge the source (i.e. me).

A total and exact quote, without the reference to the original poster, seems a bit shameless.

But still, I'd love to know the answer.

reply to post by aristocrat2


Most likely because they see opertunity.
Americas a big nation and when it does recover, it'll owe us.

Hi!

Possibybecause the English are so stupid?

You supported them in the war in Iraq (support the Hawks) and what do they you give back in return? An hour long wait at immigrtion.....Full body scans because.... the US is always paradoid.

But when the IRA were funded by your NY supporters..... I guess that was ok?

Peace!

[edit on 14-3-2010 by The Wave]

Originally posted by The Wave
Hi!

Possibybecause the English are so stupid?

You supported them in the war in Iraq (support yhe Hawks) and what do they you give back in return? An hour long wait at immigrtion.....Full body scans because.... the US is always paradoid.

But when the IRA were funded by your NY supporters..... I guess that was ok?

Peace!

What an ignorant, racist comment.

May I also suggest you use a spell-checker. It would at least give the impression you are educated.

It is not the "English" (you need a cap at the start) who bought the debt. It was the British government. Indeed, as far as I am aware, the British people are unaware of the levels of US debt that they have paid for. Certainly, the increase in dollar holdings to offset the Chinese dumping was not reported in the media.

And this cannot have been a recent development. To be the third largest holder of debt, this must have been going on for some time.

Britain only recently finished paying off lend-lease (i.e. American funding for the British to fight Hitler). Why did the UK govt. pay all that off, when they could have just sold their dollars?

I was going to start a topic until I saw this topic, why does this pertain?
newsolio.com...
Lehman accounting fraud

www.msnbc.msn.com...

video,

How Lehman hid borrowing from public.

www.nakedcapitalism.com...

a newly-released examiner’s report by Anton Valukas in connection with the Lehman bankruptcy makes clear. The unraveling isn’t merely implicating Fuld and his recent succession of CFOs, or its accounting firm, Ernst & Young, as might be expected. It also emerges that the NY Fed, and thus Timothy Geithner, were at a minimum massively derelict in the performance of their duties, and may well be culpable in aiding and abetting Lehman in accounting fraud and Sarbox violations.

It is pertinent because,

No US law firm would give them cover via an opinion letter for their phony repo accounting, they managed to get the opinion they sought in the UK and accordingly shuffled assets through the UK for the repo 105 transactions.

Hope this helps a little.


[edit on 123131p://bSunday2010 by Stormdancer777]

The plot thickens.

Is anybody aware of a historical record of foreign US$ debt holdings over the last thirty years or so?

One explanation for the UK govt. using British public money to shore up the US$ is that it is trying to stabilize the world financial system. It is interesting that it was not reported.

Another possibility is that the British govt. are pilfering the pockets of the people. Basically they are funneling good money into the pockets of the wealthy for toxic dollar debt.

The American govt. is doing the same to the US people via bank bail-outs and wars. Are the US and UK govt.s paying the same piper?


[edit on 14-3-2010 by rizla]

Here's some real data on the subject:

This spreadsheet shows what countries hold US debt and to what level:
US treasury bonds owned by foreign countries

Which comes from this article:
US federal deficit: who owns America's debt?

Also an article re: the Chinese dump of dollars: [url=http://www.telegraph.co.uk/finance/currency/7300770/Concerns-grow-over-Chinas-sale-of-US-bonds.html]Concerns-grow-over-Chinas-sale-of-US-bonds[/u rl]

In actual fact, a swift perusal of the top borrowers puts things into perspective. The UK is the third largest debtor, but closely trailed by several others. Also the Oil nations have bought slightly more than the UK, so the UK is technically the 4th. Still, it's pretty impressive that the UK owns more US debt than OPEC. Compare the oil producing countries wealth to the UKs...

However, this does leave open the question of why did the UK govt. buy up what the Chinese dumped. It's not the UK is rich at the moment...

[edit on 14-3-2010 by rizla]

[edit on 14-3-2010 by rizla]

reply to post by rizla


Another interesting intrigue is alongside threats of war in the Falklands, Barclays are appointed by the Argentine Gov to sort out the Argentine debt swap (Barclays have an interest in Falklands Oil)

This is picked up by Argentine human rights/anti-corruption lawyers, who start pushing for criminal proceedings against the Argentine Gov, soon after which the US considers handing over the information they have on Human right violations..

So why does Argentina appoint a UK Bank to sort out their debt swap, and isn't it convenient that following starting criminal proceeding the US considers handing over details of the Humans rights violations these lawyers also seek.

There is so much high level manipulation going on in the world right now.. I honestly do not know who has who over a barrel or what their aim or agenda is...

I figured that since the UK is already in so much debt, they probably bought more US securities as a way to divert some of the blame when their economy and currency finally crashes. They can say "Look, it was the fault of the Americans, they did this to us by destroying their own economy and currency that we invested in!"

I'm surprised China is still even extending us credit. We've had quite a party at their expense, haven't we. We've lived quite high on the hog, taking advantage of their cheap desperate to work starving slave labor wages. And if that wasn't bad enough, we got them to take IOUs for all of it too, HAR! Man, will the joke be on THEM when we crash and proclaim we can't ever hope to pay off any of them IOUs! What do you suppose all them angry unemployed and now poor and broke and jacked Chinese will do when they finally realize we've ripped them off with our cheating funny fiat money ponzi scam? Hum? The whole world is going to be pretty mad at the good old defunct US of A when they realize we've jacked them all and nothing except the land under our feet to offer them all.

Originally posted by DivinorumusWhat do you suppose all them angry unemployed and now poor and broke and jacked Chinese will do when they finally realize we've ripped them off with our cheating funny fiat money ponzi scam?

Eat Chinese govt. bullets, I expect.

It is hard to see how Gordo could be leading the UK down a worse road.

www.abovetopsecret.com...

this has a clip that will go some way of telling you why
and how the usa PEOPLE are financially owned by the queen of england
making the peope of the usa "slaves" if you will to the "united states of america corporation" owned by The monarchy of the United Kingdom



makes me proud to be english and to have the BRAIN (no america you dont get brains at mc d's) to see past the end of our nose

[edit on 15-3-2010 by ben1o9]